Petroleum & All Ordinaries

Petroleum: Petroleum prices have been significantly impacted by the conflict and the closure of the Strait of Hormuz. The interim deal's provisions for reopening the strait and allowing Iran to sell its oil freely are expected to increase global supply and lower prices, providing relief to consumers.

All Ordinaries: The broader ALL ORDINARIES in Australia was also down, reflecting a negative market trend.

Petroleum: Petroleum prices have been highly volatile due to the conflict and the closure of the Strait of Hormuz. The interim deal and the reopening of the Strait are expected to lead to a significant increase in oil supply, potentially causing a 'mini glut' in the short term and stabilizing prices, which is beneficial for importing nations like India.

All Ordinaries: Australia's All Ordinaries also declined, mirroring the negative trend in the S&P/ASX 200.